Royal Caribbean Cruises Ltd. (RCL) Expected to Post Quarterly Sales of $2.58 Billion
Equities analysts forecast that Royal Caribbean Cruises Ltd. (NYSE:RCL) will post $2.58 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Royal Caribbean Cruises’ earnings, with the highest sales estimate coming in at $2.61 billion and the lowest estimate coming in at $2.56 billion. Royal Caribbean Cruises posted sales of $2.56 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 0.8%. The business is expected to announce its next quarterly earnings results on Friday, October 27th.
According to Zacks, analysts expect that Royal Caribbean Cruises will report full year sales of $2.58 billion for the current fiscal year, with estimates ranging from $8.71 billion to $8.80 billion. For the next year, analysts expect that the company will report sales of $9.30 billion per share, with estimates ranging from $9.21 billion to $9.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year.
A number of research firms have weighed in on RCL. Nomura raised their price target on Royal Caribbean Cruises from $131.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday. Wedbush upped their price objective on Royal Caribbean Cruises from $125.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Buckingham Research increased their price objective on Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $111.00 to $130.00 in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $118.14.
In other news, CEO Richard D. Fain sold 210,706 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the completion of the sale, the chief executive officer now owns 967,741 shares of the company’s stock, valued at $112,093,440.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Harri U. Kulovaara sold 7,580 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $119.61, for a total transaction of $906,643.80. Following the completion of the sale, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at approximately $2,809,997.73. The disclosure for this sale can be found here. Insiders have sold a total of 480,079 shares of company stock worth $56,139,855 in the last quarter. Company insiders own 15.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. raised its stake in Royal Caribbean Cruises by 0.3% in the 2nd quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock worth $259,000 after purchasing an additional 8 shares in the last quarter. Granahan Investment Management Inc. MA boosted its holdings in Royal Caribbean Cruises by 0.4% in the 1st quarter. Granahan Investment Management Inc. MA now owns 2,882 shares of the company’s stock valued at $283,000 after purchasing an additional 11 shares during the period. Cleararc Capital Inc. boosted its holdings in Royal Caribbean Cruises by 0.6% in the 1st quarter. Cleararc Capital Inc. now owns 4,095 shares of the company’s stock valued at $402,000 after purchasing an additional 25 shares during the period. Morse Asset Management Inc boosted its holdings in Royal Caribbean Cruises by 0.7% in the 2nd quarter. Morse Asset Management Inc now owns 3,425 shares of the company’s stock valued at $374,000 after purchasing an additional 25 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in Royal Caribbean Cruises by 1.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,458 shares of the company’s stock valued at $268,000 after purchasing an additional 28 shares during the period. 71.51% of the stock is currently owned by institutional investors and hedge funds.
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Royal Caribbean Cruises (NYSE:RCL) opened at 119.00 on Wednesday. The stock has a 50 day moving average of $119.54 and a 200-day moving average of $110.73. Royal Caribbean Cruises has a 52-week low of $67.53 and a 52-week high of $125.00. The company has a market cap of $25.60 billion, a price-to-earnings ratio of 16.69 and a beta of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be paid a $0.60 dividend. The ex-dividend date is Thursday, September 21st. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. This represents a $2.40 annualized dividend and a yield of 2.02%. Royal Caribbean Cruises’s payout ratio is 33.71%.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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